Market Update - December 14, 2023

US central bank chairman Jay Powell says the Fed started to talk about rate cuts. US investors seem to think everything’s gravy now.

They’re bidding.

We know the Fed is a faith-based organization and Chairman Powell’s projections don’t matter.

What does that mean for crypto?

We shall see, won’t we? Let’s not worry about the Fed any more than any other entity.

Also, don’t worry about the US government’s 30,000 bitcoins. We know they were getting ready to sell last week, they may have already sold, or maybe not, and it’s only $1.2 billion—not enough to substantially change the trajectory of the market.

And don’t worry about the exploit on dapps connected to ledger connect! Stay away from Ethereum front-ends until the problem’s fixed. Follow @ledger and use this as a chance to play around with Avalanche, Cardano, Solana, and other smart contract platforms.

If anything, worry about the behaviors and trends we’ve started to see. More on that in this update, with these topics:

• Video

• Massive liquidations. NOT!

• Key shifts in HODL behaviors and metrics

• You’re not early but that’s not a bad thing. Here’s why

• Your mind changed, not the market

I strongly advise you to read the summary below and watch the video update! You miss too much when you get only one of them!

To speed up the video (shorten the playing time), tap the circled gear button at the bottom-right corner of the video. A playback speed of 1.5 should do ok for most of you.

The rest of this post is for premium readers only.